Fundraising Overview - The company raised a total of RMB 855,200,000.00 by issuing 20,000,000 shares at RMB 42.76 each, with a net amount of RMB 772,852,134.13 after deducting fees [1][2] - As of June 30, 2025, the company has used RMB 560,266,964.89 of the raised funds, leaving a balance of RMB 105,127,860.81 [1][2] Fund Utilization - The company committed to invest in three projects: the construction of an electronic component production base in Changsha, the establishment of the Fan Hai R&D Center, and the replenishment of working capital [2][3] - The utilization rate of the raised funds is 72.49% as of June 30, 2025 [2] Project Adjustments - The company has made adjustments to the investment amounts and internal structures of the projects to enhance the efficiency of fund usage, particularly reallocating funds from the Changsha production base project to the R&D center [3][4] - The total investment for the Changsha project was adjusted from RMB 74,794.78 million to RMB 71,646.67 million, reflecting a decrease of RMB 3,148.11 million [2][3] Fund Management - The company has established a dedicated account for the management of raised funds, ensuring that these funds are not used for other purposes [1][2] - The company has engaged in cash management for temporarily idle funds, with a maximum of RMB 60,000.00 million allocated for safe, liquid investments [4][5][6] Project Performance - The projects funded by the raised capital are expected to generate benefits, although some projects are still in the trial operation phase and cannot yet be evaluated for individual profitability [7][8] - The construction of the Changsha production base is projected to be completed by December 2025, with ongoing procurement of equipment to enhance operational efficiency [8]